Strategic Documents for SayProRoyal-9 SayPro Royal Board Compensation Committee

Strategic Documents

1. Purpose Statement

The purpose of the SayProRoyal-9: SayPro Royal Board Compensation Committee is to design, implement, and oversee equitable, transparent, and performance-based compensation policies for SayPro Royal Board members, ensuring alignment with SayPro’s mission, values, and strategic objectives.

2. Mandate

To provide independent oversight and strategic guidance on compensation matters related to SayPro Royal Board governance, including remuneration, rewards, allowances, performance-based incentives, recognition, and benefits for board members and strategic advisors.

3. Objectives

• To establish fair and competitive compensation structures for SayPro Royal Board members.
• To ensure compliance with legal, ethical, and governance best practices.
• To foster transparency and accountability in all board compensation matters.
• To benchmark SayPro’s board compensation against similar local, regional, and international organizations.
• To support and reward high-performing governance leadership within SayPro.

4. Scope of Work

• Review and approve compensation strategies, structures, and scales.
• Develop compensation policies for full-time, part-time, honorary, and consulting board roles.
• Assess and recommend performance incentives and recognition schemes.
• Ensure gender-sensitive, inclusive, and equitable remuneration practices.
• Manage conflicts of interest and ethical issues in board compensation.
• Conduct periodic evaluations of board remuneration effectiveness.

5. Key Responsibilities

• Draft, update, and implement the SayPro Board Compensation Policy.
• Recommend honoraria, stipends, travel allowances, and related benefits.
• Approve reward structures for board members serving in additional strategic roles.
• Liaise with external consultants for compensation benchmarking and analysis.
• Ensure compensation transparency through public disclosure and internal reports.
• Advise on budget allocations for board compensation and related costs.
• Provide strategic reports to the Chairperson, SayProRoyal, and SayPro Council.

6. Committee Structure

• Chairperson – Appointed by SayProRoyal and approved by SayPro Council.
• Vice Chairperson – Elected from among committee members.
• Members – Total of 9 members representing diverse sectors: legal, finance, governance, HR, youth leadership, civil society, gender, disability inclusion, and corporate.
• Ex-Officio Member – SayPro Chairperson or their delegate.
• Secretariat – SayPro Governance Office provides administrative support.

7. Meeting Schedule

• Quarterly Meetings – Regular committee sessions to evaluate progress.
• Annual Review – A strategic planning session to revise policies and evaluate outcomes.
• Emergency Meetings – Convened upon urgent or emerging compensation-related issues.
• Reports Submission – Bi-annual reports to SayPro Royal Board and Council.

8. Monitoring & Evaluation Framework

• Key Performance Indicators (KPIs):
  • Completion and adoption of Board Compensation Policy.
  • Annual board satisfaction survey score (related to fairness and recognition).
  • Compliance with regulatory and audit requirements.
  • Timely submission of reports and recommendations.
• Evaluation Tools:
  • Board feedback and consultation sessions.
  • Independent external audits.
  • Benchmarking studies.
  • Internal policy reviews and audits.

9. Strategic Principles

• Transparency: Open and clear processes in compensation decisions.
• Equity: Fairness across gender, ability, and role distinctions.
• Meritocracy: Reward linked to performance and contributions.
• Sustainability: Alignment with SayPro’s financial and strategic plan.
• Dignity: Recognizing the value of service and leadership.